Central Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 7(2) of the Insolvency and Bankruptcy Rules, 2019, against Suresh Verma, a Personal Guarantor to a Corporate Debtor. The application seeks to initiate the Insolvency Resolution Process (IRP) for the Personal Guarantor. The applicant submitted a demand notice dated 20.02.2024, as required under Section 95(4)(b) of the Code and Rule 7 of the Rules, demanding payment of the amount of default. The application includes Form-B and is placed on record.
Central Bank of India filed an application under Section 95 of the IBC, 2016, against Suresh Verma, a Personal Guarantor to a Corporate Debtor, seeking to initiate the Insolvency Resolution Process. A demand notice dated 20.02.2024 was issued to the Personal Guarantor under Section 95(4)(b) of the Code and Rule 7 of the Rules. The application included Form-B. The court examined the proof of service of the demand notice on both the Personal Guarantor and the Corporate Debtor. The court also considered the Supreme Court's judgment dated 09.11.2023 in Dilip B. Jiwrajka vs. Union of India & Ors. Upon filing the application, an interim moratorium under Section 96(1)(a) of the IBC, 2016, commenced concerning the debts of the Personal Guarantor. Mr. Damodar Prasad Gupta
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Demand Notice issued to…
Judgment dated 09.11.2023 of the Hon'ble…
Central Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 7(2) of the Insolvency and Bankruptcy Rules, 2019, against Suresh Verma, a Personal Guarantor to a Corporate Debtor. The application seeks to initiate the Insolvency Resolution Process (IRP) for the Personal Guarantor. The applicant submitted a demand notice dated 20.02.2024, as required under Section 95(4)(b) of the Code and Rule 7 of the Rules, demanding payment of the amount of default. The application includes Form-B and is placed on record.
Central Bank of India filed an application under Section 95 of the IBC, 2016, against Suresh Verma, a Personal Guarantor to a Corporate Debtor, seeking to initiate the Insolvency Resolution Process. A demand notice dated 20.02.2024 was issued to the Personal Guarantor under Section 95(4)(b) of the Code and Rule 7 of the Rules. The application included Form-B. The court examined the proof of service of the demand notice on both the Personal Guarantor and the Corporate Debtor. The court also considered the Supreme Court's judgment dated 09.11.2023 in Dilip B. Jiwrajka vs. Union of India & Ors. Upon filing the application, an interim moratorium under Section 96(1)(a) of the IBC, 2016, commenced concerning the debts of the Personal Guarantor. Mr. Damodar Prasad Gupta
…Demand Notice issued to…
Judgment dated 09.11.2023 of the Hon'ble…